UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Rel. No. 37514 / August 2, 1996
Admin. Proc. File No. 3-9010
___________________________________________
:
In the Matter of :
:
A.R. BARON & CO. INC. : SUPPLEMENTAL
: ORDER
and :
:
ANDREW E. BRESSMAN :
ROMAN OKIN :
___________________________________________:
This Commission, on May 29, 1996, issued a Temporary Cease
and Desist Order and Order for Related Relief ("the TCDO"),
pursuant to Section 21C(c) of the Securities Exchange Act of 1934
("Exchange Act") and Rule 500 et seq., of the Commission's Rules
of Practice, 17 C.F.R. 500 et seq. on application of the Division
of Enforcement ("Division"). In that application, the Division
alleged that Respondents A.R. Baron & Co., Inc. ("Baron"), Andrew
E. Bressman ("Bressman") and Roman Okin ("Okin") violated Section
17(a) of the Securities Act of 1933, 15 U.S.C. 77q(a), Section
10(b) of the Exchange Act, 15 U.S.C. 78j(b), and Rule 10b-5
thereunder, 17 C.F.R. 240.10b-5. Solely for purposes of
resolving the Division's application for the TCDO, the
Respondents, without admitting or denying the allegations
contained in the application for the TCDO, or in the TCDO,
consented to entry of the TCDO.
On July 1, 1996, the Division applied for a supplemental
order alleging, inter alia, that Respondents have violated and
continue to violate the TCDO. On July 17, 1996, the Division
filed a second application requesting that we enter this
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Supplemental Order. Solely for purposes of resolving the
Division's July 1, 1996 application for a supplemental order, the
Respondents, without admitting or denying the allegations
contained in that application or in this Supplemental Order,
consent to entry of this Supplemental Order.
Now, upon consideration of the foregoing,
this Commission has determined that the alleged or threatened
violations of Section 17(a) of the Securities Act, Section 10(b)
of the Exchange Act, and Rule 10b-5 thereunder specified in the
Order Initiating Proceedings are likely to result in significant
dissipation or conversion of assets, significant harm to
investors, or substantial harm to the public interest prior to
the completion of proceedings on the permanent cease-and-desist
order. Accordingly, this Commission deems it appropriate to
order, and
IT HEREBY IS ORDERED that, while the TCDO remains in effect,
Respondents Baron, Bressman, and Okin, and each of them, cease
and desist from soliciting or effecting transactions for Baron or
any customer in any security, other than liquidating customer
positions.
IT HEREBY IS FURTHER ORDERED that, as supplemented herein,
the TCDO will remain in full force and effect.
By the Commission.
Jonathan G. Katz
Secretary